The Guardian's essential guides + Europe | The Guardianhttp://www.theguardian.com/news/series/guardian-essential-guides+world/europe-news
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Bonuses: the essential guidehttp://www.theguardian.com/business/2013/feb/28/bonuses-the-essential-guide
How did bonus culture develop, why is it <a name="Study the"></a>controversial, and what is the EU doing about it?<p><a href="#101"><strong>1. The issue at a glance</strong></a><br /><a href="#102"><strong>2. Why is it being talked about now?</strong></a><br /><a href="#103"><strong>3. A brief history</strong></a><br /><a href="#104"><strong>4. What happens next</strong></a><br /><a href="#105"><strong>5. The options – and key arguments</strong></a><br /><a href="#106"><strong>6. Why is this debate mostly about banks?</strong></a><br /><a href="#107"><strong>7. What did UK banks pay out in 2012?</strong></a><br /><a href="#108"><strong>8. What are the authorities doing about bonuses?</strong></a><br /><a href="#109"><strong>9. What does it mean for me?</strong></a><br /><a href="#110"><strong>10. Glossary</strong></a><br /><a href="#111"><strong>11. FAQ</strong></a><br /><a href="#112"><strong>12. What they say about bonuses</strong></a><br /><a href="#113"><strong>13. In greater depth (the best other pieces on the subject)</strong></a></p><p><a name="101"></a></p><p>Bankers' bonuses are like cockroaches – everybody hates them, and nothing can kill them. I wonder if they would literally, as well as figuratively, survive a nuclear war.</p><p>This is possibly the most deluded measure to come from Europe since Diocletian tried to fix the price of groceries across the Roman Empire.</p><p><br />What is it essentially about bankers that means they need skin in the game [bonuses]? We don't give skin in the game to civil servants, to surgeons, to teachers.</p><p>Our shareholders love what we do … They love our universal banking model, they love the diversity of risk and they love our diversity of profits. What they say to me is, 'Bob, don't be uncompetitive'.</p><p><br />I make no apology for attacking spivs and gamblers who did more harm to the British economy than Bob Crow could achieve in his wildest Trotskyite fantasies, while paying themselves outrageous bonuses underwritten by the taxpayer.</p><p>Bankers need to see themselves as custodians of their institutions, improving them before passing them along to their successors. It has been said that, 'trust arrives on foot, but leaves in a Ferrari.' </p><p><br />The investment banks did exactly what they were incentivised to do: maximise employee compensation [pay and bonuses]. Investment banks pay out 50% of revenues as compensation. More leverage [borrowing] means more revenues, which means more compensation … The owners, employees and creditors of these institutions are rewarded when they succeed, but it is all of us, the taxpayers, who are left on the hook if they fail. This is called private profits and socialised risk. Heads, I win. Tails, you lose. It is a reverse-Robin-Hood system.</p><p>Bankers have to realise that the British public helped to bail out the banks and it is very galling when they see bankers pay themselves unjustified bonuses. The banks have got to think about their social responsibilities.</p> <a href="http://www.theguardian.com/business/2013/feb/28/bonuses-the-essential-guide">Continue reading...</a>Executive pay and bonusesBankingBanking reformFinancial sectorBusinessEuropean UnionEuropeWorld newsEuropean banksUS newsUK newsThu, 28 Feb 2013 17:42:00 GMThttp://www.theguardian.com/business/2013/feb/28/bonuses-the-essential-guideDavid Levene/David LeveneUK politicians have lobbied furiously against EU plans for caps on bonuses. Photograph: David LeveneDavid Levene/David LeveneUK politicians have lobbied furiously against EU plans for caps on bonuses. Photograph: David LeveneSimon Bowers, Jill Treanor, Fiona Walsh, Julia Finch, Patrick Collinson and Ian Traynor2013-02-28T17:42:00ZHorsemeat scandal: the essential guidehttp://www.theguardian.com/uk/2013/feb/15/horsemeat-scandal-the-essential-guide
With the Europewide scandal over the contamination of meat products, from beefburgers to lasagne, showing no sign of abating, <a name="Study the"></a>study the issue in depth and learn all you need to know about how it came to this with our essential guide<p><a href="#101"><strong>1. Where did the horsemeat scandal begin?</strong></a><br /><a href="#102"><strong>2. Where did the horse and pig found by the Irish in beef products come from?</strong></a><br /><a href="#103"><strong>3. Why did some products contain so much more horse than others?</strong></a><br /><a href="#104"><strong>4. How did the rest of Europe get involved?</strong></a><br /><a href="#105"><strong>5. Is the source of the Irish horsemeat the same as the French one?</strong></a><br /><a href="#106"><strong>6. Why are the supply chains so complex?</strong></a><br /><a href="#107"><strong>7. Why has it happenened?</strong></a><br /><a href="#108"><strong>8. How is the meat industry regulated?</strong></a><br /><a href="#109"><strong>9. What about industry claims that it has full traceability?</strong></a><br /><a href="#110"><strong>10. What happened to government control of food safety and standards?</strong></a><br /><a href="#111"><strong>11. Where do the horses come from?</strong></a><br /><a href="#112"><strong>12. What part do UK horse abattoirs play?</strong></a><br /><a href="#113"><strong>13. Why are governments talking about organised crime?</strong></a><br /><a href="#114"><strong>14. Is it a health problem?</strong></a></p><p><a name="101"></a></p> <a href="http://www.theguardian.com/uk/2013/feb/15/horsemeat-scandal-the-essential-guide">Continue reading...</a>Horsemeat scandalFood safetyFood & drink industryThe meat industryIrelandEuropeSupermarketsMeatFood & drinkUK newsFri, 15 Feb 2013 18:22:00 GMThttp://www.theguardian.com/uk/2013/feb/15/horsemeat-scandal-the-essential-guideAbaca / Barcroft Media/Abaca / Barcroft MediaA production line at the Spanghero meat processing company in 2011. An economy beefburger can legally contain as little as 47% beef. Photograph: Abaca / Barcroft MediaAbaca / Barcroft Media/Abaca / Barcroft MediaA production line at the Spanghero meat processing company in 2011. An economy beefburger can legally contain as little as 47% beef. Photograph: Abaca / Barcroft MediaFelicity Lawrence2013-02-15T18:22:00ZGreece and the euro: the essential guidehttp://www.theguardian.com/world/2012/may/21/greece-euro-exit-essential-guide
Bailout to breakup, Syriza to Grexit, all you need to know about the causes and consequences of Greece facing a euro exit<p><a href="#101"><strong>1. The issue at a glance</strong></a><br /><a href="#102"><strong>2. Why is it being talked about now?</strong></a><br /><a href="#103"><strong>3. A brief history</strong></a><br /><a href="#104"><strong>4. What happens next?</strong></a><br /><a href="#108"><strong>5. The options – and key arguments</strong></a><br /><a href="#105"><strong>6. What does it mean for me?</strong></a><br /><a href="#106"><strong>7. Key players</strong></a><br /><a href="#107"><strong>8. Glossary</strong></a><br /><a href="#109"><strong>9. FAQ</strong></a><br /><a href="#110"><strong>10. Some key statistics</strong></a><br /><a href="#111"><strong>11. In greater depth</strong></a><br /><a href="#112"><strong>12. One sentence killer dinner party line on Greece's exit from the eurozone</strong></a></p><p><a name="101"></a></p> <a href="http://www.theguardian.com/world/2012/may/21/greece-euro-exit-essential-guide">Continue reading...</a>GreeceEurozone crisisEuropeWorld newsEuropean UnionEuropean monetary unionEconomicsBankingEuropean banksFinancial crisisFinancial sectorEuroBusinessGermanyFranceAngela MerkelGeorge PapandreouInternational Monetary Fund (IMF)Christine LagardeMon, 21 May 2012 15:11:47 GMThttp://www.theguardian.com/world/2012/may/21/greece-euro-exit-essential-guideOrestis Panagiotou/EPAGreece's exit from the euro could have catastrophic consquences for the country and beyond. Photograph: Orestis Panagiotou/EPAOrestis Panagiotou/EPAGreece's exit from the euro could have catastrophic consquences for the country and beyond. Photograph: Orestis Panagiotou/EPALuke Harding2012-05-21T15:11:47Z